Opening the National Assembly Standing Committee’s 34th session in Hanoi on Wednesday, Chairwoman Ngan said: “The business environment has improved, but has not yet met the current needs. Foreign enterprises have been created favorable conditions, but domestic enterprises are facing obstacles in administrative procedures. The number of dissolved enterprises, especially small and medium-sized enterprises, is high. In the first months of 2019, the business licensing has slowed down. The government needs to keep a close watch on the issue for appropriate solutions.”
Afterwards, the National Assembly Standing Committee listened to the Government’s report on assessments of the implementation of the socio-economic development and state budget plans for last year and in the first months of this year. Minister of Planning and Investment Nguyen Chi Dung told deputies that the macro-economy was stabilized with inflation under control, creating important foundations for economic restructuring, sectoral development, and social security. Budget collection was 8% higher than planned, while budget spending was ensured to accomplish key tasks and public debt was controlled. Vietnam’s GDP grew more than 7%, higher than the 6.7% reported earlier and the target set by the National Assembly.
During the 3-day meeting, the National Assembly Standing Committee will discuss the draft Law on Amendments, Supplements to the Law on Public Investment and the revised Labor Code. The Committee is scheduled to discuss the use of 430 million USD saved from decreases in project investments, and the establishment of several new administrative units in Dong Nai province.